The potential for fraud is always a risk that cannot be ignored when it comes to conducting transactions. In person, an individual could present forged or altered documents that attest to an identity that does not belong to him or her.

On 1 July 2016, the eIDAS Regulation officially replaces EU 1999/93 Directive for providing governance over electronic identification and trust services for electronic transactions in the internal market across the European Union.

Under Regulation (EU) No 910/2014 (eIDAS), a Trust Service Provider (TSP) is defined as “a natural or a legal person who provides one or more trust services either as a qualified or as a non-qualified trust service provider."

eIDAS has brought a breath of fresh air to a darker aspect of the technological sector; it’s taken a subject that is sometimes surrounded by a cloud of mystery and confusion (that of security and encryption) and infused it with transparency.

eIDAS will not only usher in a new era of innovation and transparency in how organizations do business, but this regulation is also paving the way for new levels of interoperability amidst agencies, companies, and their partners and clients.

When an electronic signature is created, it must be associated to the data that it is being used to secure. This is accomplished by creating a data set that will combine the signature with the signed data or by storing the detached signature in a separate resource and then using an external means to associate it back to the data. There are some advantages to using detached signatures; mainly that it prevents modification of the original data objects. However, there is a risk in doing this. There is always the possibility that the signature will become separated from its applicable data, and when this happens, the association is lost.

In the world of business, every minute counts. When it comes to closing deals, it is imperative to minimize any delays or barriers to keep business moving at a fast pace. Delays often occur when one party involved in a business or government transaction must wait to receive signed documents from the other party. Mailing documents back and forth by post or sending through facsimile takes time and is not very efficient by today’s standards. And of course, there is the obvious fact that these methods are not very secure.

There is always the risk of the information being sent becoming lost, stolen or tampered with before the intended recipient has received it. This is why now, more than ever, the need for fast and secure electronic transactions has become vital to everyday business processes. The use of qualified electronic signatures answers the call for that need, especially when conducting business across borders.